|
|
Home >
Overseas Property News
|
Property in Detroit is a 'property investors dream'
Country: United States
27 July 2009 Property in Detroit, USA, has been described as a ‘property investors dream’ by Experience International property agency. Detroit, a former hub for America's automobile industry, has been badly affected by the US economic downturn and property foreclosures, and the city now has a number of homes at highly attractive prices. Detroit's property market now appears to be stabilising with the support of the Department of Housing and Urban Development scheme (HUD), plus a collaboration of city officials, business people, politicians and property investors. President Barack Obama has himself pledged to support the regeneration of Detroit in the American Recovery and Reinvestment Act 2009. Property investors can benefit from an ethical investment that recycles houses, turning foreclosed and uninhabitable properties back into homes for the employed, low-income sector. And with a waiting list of over 9,000 people, there is no shortage o residential demand.
But how does the HUD programme work? Well crucially the HUD and Housing Choice Vouchers (HCV) programme has a 'one strike policy', unlike the UK and other parts of Europe where unruly tenants get re-housed, this does not happen under this scheme, which is a huge attraction for investors. Tenants that are evicted from the HUD scheme lose any future right to a HUD scheme USA home anywhere in the country thereby securing the investment homes. Through HUD the government pays the tenant's percentage of the rent, normally 80-100%, directly to the owner's management company so investors are not reliant on collecting rents from the tenants personally.
It’s been reported that the City of Detroit currently has a waiting list of over 9,200 pre-approved families with HCV who are currently in unsuitable, emergency or temporary accommodation. Experience International, who selects properties through their local business partnerships, is currently offering a range of homes in Detroit from as little as $1 (70p).
See Also: Detroit, Marc Da-Silva, Overseas property investor news, USA
Some properties in United States
|
|
|
|
Price: £8,515
|
Type: House
|
Bedrooms: 3
|
|
|
HIGH YIELD INVESTMENT, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £8,515
|
Type: House
|
Bedrooms: 3
|
|
|
HIGH YIELD INVESTMENT PROPERTY, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service PROVIDED
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £9,419
|
Type: House
|
Bedrooms: 4
|
|
|
This 4 Bedroom house features 3 covered garage spaces. Needs work but will rent for $800 per month upon completion of renovation.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £9,483
|
Type: Apartment
|
Bedrooms: 2
|
|
|
More than double your money in just nine years with an investment Bond administered from the UK by an FSA regulated Trustee. 6, 8 & 10 year investment terms available. Averaged returns of 9% to 13% per annum over six to ten years
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £10,967
|
Type: House
|
Bedrooms: 2
|
|
|
Income from day one from this high yield Income producing investment property, 23% NETreturn after fixed running costs, fully let 2 bedroom house situated in Syracuse City, Full Purchase & Management Service provided priced 42% below assessed value.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £13,548
|
Type: House
|
Bedrooms: 4
|
|
|
High yield Income producing investment property producing 44% annual return after fixed running costs * SEE COMMENTS IN THE DETAILS for sale at unbelievably low price, consisting of 2 fully let apartments, Purchase/Management Service,income from day
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £15,741
|
Type: House
|
Bedrooms: 2
|
|
|
This Property has long term tenants paying $500 per month.
It is Located in Rochester the Third Largest City in NY.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £15,805
|
Type: Apartment
|
Bedrooms: 3
|
|
|
80% price drop & potential 16% net return makes this 3 bed/2 bath Condo with communal pool and easy access to Disneyland an ideal holiday home/investment property. Can be easily purchased & managed from any part of the world - contact us for details.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £17,385
|
Type: House
|
Bedrooms: 3
|
|
|
Our fully refurbished & pre tenanted selection of quality homes are located in family friendly areas and are available with 50 % non status finance. We have the most competitive package in Detroit and offer a money back guarantee for peace of mind.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: £17,419
|
Type: House
|
Bedrooms: 3
|
|
|
26% Net annual return after fixed running costs $7,060 / £4,554 / €5,229 excellent condition throughout investment property consisting of TWO fully let apartments, excellent Location, Full Purchase & Management Service Provided, income from day one
|
|
View details | Enquire further
|
|
|
|
|
|
|
|
